Streetbeat News

Acquisitions Mergers

LMFA

LM Funding America has announced a stalking horse bid to purchase the assets of Symbiont.io for $2.6 million as the company undergoes Chapter 11 bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 12:31 pm

YELP

Activist investor TCS Capital Management has built a stake in Yelp Inc (NYSE:YELP) and urged the company to explore strategic alternatives, including a sale. TCS Capital believes Yelp could be sold for at least $70 a share, more than double its current stock price. The firm also suggests a tax-free merger with online services company Angi.

Portfolio Pulse from Anusuya Lahiri

May 23, 2023 | 12:24 pm

GRWG

GrowGeneration has acquired two hydroponic garden centers in Alaska, expanding its presence in the state. The acquisition is expected to generate over $6 million in annual revenue.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 12:18 pm

YELP

Yelp shares are trading higher after a report suggests that activist investor TCS Capital is pushing for the company to explore a sale.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 12:09 pm

ACRDF

ACRHF

CGC

Acreage Holdings reported Q1 2023 revenue of $56.0 million, a 1.6% YoY decrease, and adjusted EBITDA of $10.6 million. The decline in revenue was due to industry headwinds, competitive pressures, and the divestiture of Oregon operations, partially offset by a Maine dispensary acquisition in 2022.

Portfolio Pulse from Vuk Zdinjak

May 23, 2023 | 11:52 am

CMI

Cummins Inc (NYSE:CMI) has agreed to acquire two commercial vehicle manufacturing plants from Faurecia, a FORVIA Group company, for €142 million. The facilities are located in Columbus, Indiana, and Roermond, Netherlands. The acquisition is expected to close by the end of the calendar year.

Portfolio Pulse from Shivani Kumaresan

May 23, 2023 | 11:44 am

CWBR

CohBar, Inc. and Morphogenesis, Inc. have entered into an all-stock merger agreement. CohBar common stockholders will be issued a dividend equal to approximately 3.3 shares of CohBar common stock. Pre-merger CohBar equityholders are expected to own 15% and pre-merger Morphogenesis equityholders 77% of the common stock of CohBar.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 11:32 am

META

SSTK

Shutterstock has agreed to acquire GIPHY from Meta Platforms for $53 million in net cash. Meta will enter into an API agreement to ensure continued access to GIPHY's content. The transaction is expected to close in June 2023.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 11:04 am

PARA

Paramount Global plans to merge its Paramount+ streaming service with the Showtime app on June 27, increasing the price to $11.99. The standalone Showtime app will be sunset, and the premium Showtime cable-TV network will be rebranded by end-2023. The company aims to reduce content spending and leverage profit.

Portfolio Pulse from Lekha Gupta

May 23, 2023 | 10:37 am

CMI

Cummins Inc. has entered into an agreement to acquire two of Faurecia's commercial vehicle manufacturing plants in Columbus, Indiana, and Roermond, Netherlands for €142 million.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 7:40 am